Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Garissa county Director of Cooperatives Samuel Karanja has expressed concern that with the aggressive mushrooming number of digital money lenders, the Sacco movement stands threatened. Speaking to Sacco Review in his office, Karanja lamented that the other challenge Saccos face is high loan defaults owing to the harsh economic times. “Most people opt for digital…
Over the years, Saccos have emerged as the new frontier of development in Kenya. With their flexible financial solutions, the institutions are transforming the lives of ordinary citizens by providing them with access to credit and savings facilities. As of 2021, there were over 15,000 registered Saccos in Kenya with a total membership of over…
Coffee farmers have suffered a great deal after prices of their commodity dropped by almost half this year. At Kabare Coffee Farmers Co-operative Society Limited for instance, which is affiliated to Kirinyaga District Co-operative Union Limited, farmers were paid between Ksh72 and Ksh92 per kilogram, rates that were far much lower than last year’s of…
Bee farmers in Embu County are championing the creation of a Sacco to streamline the production and marketing of honey and products of beekeeping. Catherine Ruguru Nyagah, the coordinator of the farmers in Embu County, said the formation of a Sacco to deal with bee farming is now in the final stages and will eventually…
Over the years, Saccos have emerged as the new frontier of development in Kenya. With their flexible financial solutions, the institutions are transforming the lives of ordinary citizens by providing them with access to credit and savings facilities. As of 2021, there were over 15,000 registered Saccos in Kenya with a total membership of over…
Savings and Credit Cooperatives (Saccos) and Microfinance institutions are expected to reap big following a move by the Central Bank of Kenya (CBK) to increase banks’ lending rates. CBK Governor Kamau Thugge raised the benchmark lending rates to the highest point in nearly seven years on heightened fear of a spike in consumer prices. The…
As the country’s hard economic times bite, boda boda riders, farmers and traders from the Western region have been asked to join Saccos and invest in the future to cushion themselves against the current cash crunch. Speaking to journalists in Busia town, Faridi Sacco chairman Godfrey Saidi said many boda boda riders are facing a…
During this year’s National Cooperatives CEO’s Workshop in Mombasa organized by the Co-operative Bank, the Sacco heads decried lack of adequate information about SMEs as a hindrance to getting loans as their inability to keep records pushed them away from investing. In addition, most SMEs have a poor saving culture, denying them the banking history…
The Cooperative Bill 2020 is set to be amended and realigned to the Kenya Kwanza administration’s bottom-up economic model, Cooperative Alliance of Kenya (CAK) Executive Director Daniel Marube has said. He said the draft law will be taken to the Cabinet for approval and later tabled before Parliament for debate. Once passed, Marube said the…
Geoffrey Njang’ombe, former Commissioner of Cooperatives, has a unique demeanour; polite, cool and collected. Yet behind the tranquility of mien is a tough uncompromising personality, but not in the usual sense of intense outlook commanded by senior corporate gentlemen and ladies. His amiability goes beyond common etiquette, transcending even the wiles of temptation in the…
